About the Author

George Hutchison is the author of Insights on Stewardship and uses his years of personal experience, study, and teaching on the topic of Biblical Financial Stewardship to assist others in experiencing the freedom that only comes from managing our resources the way God intended.

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Sunday, April 15, 2012 | Comments: 5

Have something on your mind concerning finances - here's your chance to let your voice be heard. Post comments or questions, anything related to personal finances is fair game here. Author George Hutchison regularly checks this area as well, so questions for him are welcome as well.

Comments (5)

Just want to get advice on making sure im doing the right thing as far as converting a payout from a prior pension plan at my same employer which switched to a TSAT back in 2006 but now is terminating the prior plan with 3 options, payout in lump sum convert funds over to present tsat plan(the one I think is the choice which does a 6% employer match) or rollover into a individual(private) IRA? THanks

Hi Cheryl thanks for the question. I am assuming your TSAT plan is what is commonly referred to as a TSA plan which is usually offered by schools and other non-profits. There are other issues that should be taken into account (such as your age and total retirement savings) but the two main considerations are not paying taxes on the distribution (option one) and maintaining the employer match (option 2). Based on what the information I have, I would suggest option two of converting to the current TSA plan with a 6% company match. But I would encourage to check with your Tax or Financial adviser.
Thanks Cheryl

I have money to invest from the sale of a vacation home. I've seen so many episodes of AMERICAN GREED I'm scared to trust anyone. How do I find a trustworthy agent and where should I put the money? I'm a senior citizen with no debt.
Thanks for any help you can give me. Helene

We belong to a church that is going through a revitalization. The question has come up should we incorporate as a 501c nonprofit? There are some pretty strong options both ways. I would appreciate your thoughts. Thanks, Frank

Frank, thanks for your question. I do believe it is a healthy discussion that your church should address as it goes through your revitalization. I am by no means a lawyer or expert that knows all the details of becoming a 501 (c)(3) organization. I know there are different steps that you must take in setting up churches that vary state by state. I also understand that tax-exempt status does not come directly from the 501(c)(3) designation.
In going through a similar process with my local church, I found the overriding question was should a Bible teaching church be subject to possible additional Government oversight in exchange for primarily tax advantages. Here are a few thoughts in response to that general question.
Genesis 47:26 tells us that Joseph gave the Priests a tax exemption. So, the practice extends all the way back to Genesis. Romans 13:1b says …for there is no authority except from God… and John 19:11 Jesus told Pilate that his governing authority came from God. So, these verses and others make it pretty clear that government is established and ordained by God.
Any individual, company, church or organization existing in America needs to be subject to the governing authority that God has established. (Daniel 2:21; John 19:10-11; Romans 13:1-7) Part of being subject to the government is being registered as a citizen, business, non-profit or church. One of the options that a church has available to register is as a 501(c)(3) organization. Most churches register in America as a 501(c)(3). I believe that registering your church as a 501(c)(3) organization is consistent with Biblical teaching.
As a registered organization, there will be requirements placed upon the church. We need to follow these requirements and regulations under the authority of the government (set up by God). The exception is where the requirements violates or contradicts biblical principles. In this case we answer to a higher authority than the government and we need to follow God’s Word. Daniel (chapters 3 and 6) is a great illustration of this truth. And as believers we must be willing to accept the consequences as did Daniel, Shadrach, Meshach, and Abednego.
Thanks again for a great thought provoking question. I would enjoy hearing your thoughts on the subject.
George